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Sunday, October 20, 2013

Noodles & Company (NDLS) stock has been on a roller coaster ride since going public back in June. The stock closed at $47 on Friday and is holding it's post IPO gains. Should you buy NDLS stock right now?

Noodles & Company (NDLS) is expected to report earnings in early November so unless we see a sudden drop to the low $40's before earnings, I would wait. I currently own NDLS for the long term at an average of $41.60. I will be buying more if it drops big after earnings. However, I think you have to wait to see what the results look like. If they beat earnings, beat revenue, and increase guidance, the stock will hit $52-$55 rather quickly. I have a 2014 price target of $65. NDLS is a strong buy below $43. Long term NDLS is the next Chipotle (CMG).